Saturday, June 09, 2018

TKC SATURDAY NIGHT PLAYLIST!!! HEDGE FUND LOOTS KANSAS CITY STAR!!!



Over the years we've talked about why The Kansas City Star is so horrible. There are a lot of reasons but most of them seem to come down to readers feeling neglected or unrepresented by the editorial staff and management.

Layoffs, delivery problems and thinning content are just a symptom of a larger trend. While former journos attempt to offer explanations, excuses or insights via their pathetic online endeavors - The discussion is mostly over their heads and their "reporting" often suffers without the organizational support they once enjoyed during their glory days at their old newspaper jobs they endlessly mourn. Blogging about staffing changes from the outside of an old job seems fun but also kinda bittersweet - And yes, we'll miss "Hoopz" when she moves out of town.

Meanwhile, our TKC blog community has always examined THE BIG PICTURE and offered reporting and perspective that no other news-ish outlet in Kansas City can dare match. To wit . . .

CHECK THIS TKC READER INSIGHT EXPLANATION OF HEDGE FUND INFLUENCE DECIMATING THE KANSAS CITY STAR!!!

Sadly, this financial trend is taking hold across the nation and targets struggling papers like KC's rag . . .

The Hard Truth at Newspapers Across America: Hedge Funds Are in Charge

Here's the local hot take and better insight than any local newsie can muster:

"The Star's parent company, McClatchy, is largely owned by Chatham Asset Management. Hedge funds like Chatham control many (if not most) of the daily papers in cities roughly the size of KC. They're trying to wring every last dime they can out of the failing rags, full in the knowledge that the publications are going to die.

"Circulation (print subscriptions in particular) is one area when they can still do this, mainly because long-time subscribers are often older folks who feel they are uninformed without "the paper." It would be equivalent to a younger demographic being denied WIFI or their phones, so they jack the price through the roof.

"Firing staff is another area where hedge funds can cut costs and recoup investment (Denver Post is the latest high profile example, they're owned by the fund Alden Global Capital). The Star can and will fire more staff, but after another round of "layoffs" they'll have hit the absolute bottom of the bucket. Real estate is another source of revenue, and we've already seen that scenario play out.

"Here's the point. Chatham isn't interested in upping online subscribers at the Star (my understanding is that they only have something like 11,000 stand-alone, online subscribers). It's just not worth the trouble. They're far more invested in stripping the jewelry and gold filling from the corpse prior to dumping it in the hole."
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Meanwhile, journalists continue to suffer at the hands of big money interests and the most recent insult offers an important sign of the times:

Pravda: Elon Musk’s solution for punishing journalists

And so, financial facts of life impact the KCMO news scene more than anyone would dare realize and inspire our playlist tonight.



As always, thanks for reading this week and have a safe and fun Saturday night.

24 comments:

Anonymous said...

most people won't miss them when they're gone.

People would rather read the "news" of their family and friends on line. Stuff that really impacts their lives and where they can have a direct input and communicate with people who care about what they think.

Grady said...

EXCELLENT comment from one of your readers TKC. At the very least, you realize when someone else has more info and perspective.

as for Musk's new yelp for journalists, he should stick to making sure the auto workers at his own plant are safer while he tries to put down their union.

Anonymous said...

KC Star doesnt report on some of the serious issues with city hall. Just like local news (which is why I dont watch local news anymore. They wont dig deep into how our tax dollars get spent on certain things.

Star is like Groupon in print now with a big lineup of leftists for opinions and news.

Anonymous said...

i take the star 2 times a week sun- wed and they cant even do that right i am done when my time is up cnn is all i need

Anonymous said...

Take her off the grill, folks -- she's cooked! Done!

KC Star is slowly drowning. Everybody out!

Anonymous said...

The Star's parent company, McClatchy, is largely owned by Chatham Asset Management.

I'm sure the McClatchy family, which owns a majority of the company, will really be surprised to hear that.

LIKE IT OR NOT.

But don't let your wildly idiotic assumptions get In the way of your RAGE

Anonymous said...

Vulture capitalist will destroy a company for penny's.

Anonymous said...

Where's Chainsaw Al when you need him?

Grover said...

Kansas City will be a much better place when the Star folds. Their paper hasn't helped this city and only serves to further their own interests.

Anonymous said...

It's not just the newspaper that the hedge funds are destroying, look at most of the industries in KC that are shedding workers and you'll see hedge funds taking profits and getting fat off making the lives of employees miserable.

Anonymous said...

"...readers feeling neglected or unrepresented by the editorial staff and management."

Editorials are not supposed to make readers feel 'represented', their primary purpose is to make readers think. That many readers don't understand that is one of the real reasons newspapers fail.

Anonymous said...

That's the "Trickle Down Economy" in action, Folks!

Anonymous said...

The post at 7:11 must be from one of the many former Star Employees who used to be on the Editorial Staff.
How are you enjoying your job at UMKC, pal?

Anonymous said...

OH NO THEY'RE GOING TO FIRE HOOPZ!

geezer said...

9:51 PM
Going to get your news from CNN? You're going to miss Hoopzzz !!

Ditto 7:11 !

Anonymous said...

Jim Morrison said it best, “This is the end”

And it’s about effing time!

Anonymous said...

The real reason newspapers are dying is the fact that nobody reads anymore. Short attention spans, tweets, sound bites, boring and repetitive stories about so-called "celebs" and others who are famous for being famous. Papers should go away now.

Anonymous said...

I would miss the sports pages and the comix, but the front page section is nothing but leftist spin from first page to last. In balance, good riddance to it.

Anonymous said...

If the Star wants to survive, it needs to become a nonprofit media organization. But if it's part of a hedge fund, then yeah, this thing is being squeezed for every dime then it's going to the trash. A separate entity/group would have to raise funds to resurrect it.

Retro ROCKER said...

Great Comments Tonyskansascity readers could go in and clean up the Kansas City Star in several months and make it profitable. It's not rocket science. And Independent news source will be profitable. And the Far Left Writer's will have to go. For eight years they promoted a Obama Administration that abused power and corruption. And taking about collusion with the Russians Clintons nuclear deal with the Russians. Uranium one. There have been investigative reports on this for years What once was a conspiracy theory. Is now being reported in the main stream media.

Anonymous said...

carcass

Anonymous said...

Anybody have an idea on the endgame is here?

Anonymous said...

Anybody have an idea on the endgame is here?

Classic hedgefund bustout!

They will milk that chit till the tits pull off!

Anonymous said...

"Between the Buttons" is a excellent often forgotten Stones album. Nice call Tony.